Many types of power tools include some variation of a power tool component (e.g., disc, blade) mounted on a spindle or shaft for rotation therewith to perform useful work. One type of such a power tool is an angle grinder having a grinder wheel or disk mounted on a rotary shaft for use in grinding and sanding applications. Another such power tool is a circular saw having a saw toothed disc or blade mounted on a rotary shaft for use in cutting wood or other materials. To secure the power tool component to the spindle, the component is initially mounted over the spindle so that a central bore in the component receives the spindle. A nut or other type of fastener may then be mounted onto the spindle and threaded therealong in a first direction to compress the component between the nut and a flange or other feature disposed about the spindle. The nut may also be threaded along the spindle in an opposed, second direction to allow for removal of the component (e.g., to replace a defective or broken component, to utilize a different type of component, etc.). The nut typically includes a pair of spaced apertures into which a corresponding pair of spaced pins of a spanner wrench or other similar tool may be inserted for use in rotating the nut in a desired direction.